Economics 9708/01 Oct Nov 2008 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explaining economic growth, identifying factors such as fuel shortages and weak infrastructure that led to India's slowing growth, and comparing Brazil's growth trajectory.

2. Analyzing tax rate reductions as a supply-side policy, discussing how lower taxes could increase economic activity by incentivizing more work and investment.

3. Using diagrams to explain how a decrease in marginal tax rates can affect labor supply, and discussing the likely response of government revenue when the effect is greater than one.

4. Examining the effect of the Brazilian and Mexican government policies on economic growth, evaluating whether Brazil’s approach has been detrimental compared to Mexico’s more proactive investment in infrastructure.

5. Evaluating whether tax reductions have consistently led to economic growth, using historical data to assess the relationship between tax rates and growth rates in the U.S.

6. Exploring the impact of price discrimination, using examples like Cunard’s pricing strategy, and discussing the justifications for it in terms of market efficiency and consumer welfare.